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China Trade Surplus Up

China’s trade surplus soared 96.8% to 304.5b yuan ($49.1b) in December as exports increased and imports declined, the government announced Tuesday. Exports grew 9.9% year-on-year to 1.4 trillion yuan in December, while imports fell 2.3% to 1.09 trillion yuan, the General Administration of Customs said. But total trade in yuan rose just 2.3% from the year before, far below 7.5% target.